Stock Track | Studio City International Holdings Soars 5% on Narrowing Losses and Revenue Growth

Stock Track11-05

Studio City International Holdings Ltd (NYSE: MSC) saw its stock surge by 5.11% on Monday, November 5, 2024, following the release of its third-quarter financial results. The company reported a narrowing of losses and strong revenue growth, which fueled investor optimism.

For the third quarter ended September 30, 2024, Studio City International Holdings reported an adjusted net loss of $0.107 per diluted American depositary share, an improvement from the loss of $0.11 per share in the same period last year. The company's total operating revenue for the quarter climbed to $174.6 million, up 26.92% from $137.6 million a year earlier.

Analysts attributed the stock's strong performance to the company's improving financial results, which signaled a potential turnaround in its fortunes. The narrowing of losses and robust revenue growth indicated that Studio City International Holdings' efforts to enhance operational efficiency and expand its offerings were paying off. Investors responded positively to these developments, driving the stock higher in anticipation of continued growth and profitability in the coming quarters.

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The company reported a ...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"MSC","symbol_name":"新濠影汇","start_time":0,"source_url":"","article_id":"1196050902","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1196050902","pubTimestamp":1730819191,"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Studio City International Holdings Ltd  saw its stock surge by 5.11% on Monday, November 5, 2024, following the release of its third-quarter financial results. 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